EXCHANGE OF MEMOS WITH Y. A. PREOBRAZHENSKY[1]

Written:Written on December 26, 1921Published:First published in 1959 inLenin Miscellany XXXVI.

      Printed from the original.Source:Lenin
	  Collected Works,

      Progress Publishers,1976,

      Moscow,Volume 45,

      page421b.Translated:Yuri SdobnikovTranscription\Markup:R. CymbalaPublic Domain:Lenin Internet ArchiveYou may freely copy, distribute,
	display and perform this work; as well as make derivative and
	commercial works. Please credit “Marxists Internet
	Archive” as your source.•README

Ifthis is true, it is not
bad.[2]

Perhapsthese two things could be done:

1)aweekly (monthly for a start) inventory for the whole
R.S.F.S.R.

a)of the quantity of commodities held by the state(exchange fund)

b)quantity of bank-notes

2)byway of experiment in one or two uyezds issue
(through co-operative establishments?)exchange bonds, fully
secured by the commodity fund?

Inventoryingthe commodity fund is not the business of the
People’s Commissariat for Finance. This calls for some additional
structuring or restructuring to take account of all the material
budget. Still, we have authorised Syromolotov to do this.

Thebonds could be issued when the commodities are available,
and, I think, they will be all right, but in the initial periodthere will
belittlebenefit for our own pocket.

{{Mypurpose is not “benefit for the pocket”,
but experiment,experience.

}}

[1]Thesememos were apparently written at the Ninth All-Russia             

Congress of Soviets during the discussion of the question “On    

Finance and the Budget”.

[2]Areference to the gold ruble revenue from the issue of money    

and the surplus-food requisitioning for 1918–19 and 1920.